it's what happened next that h that video going viral. oh, my gosh, that is a huge homecoming. you know there was not a dry eye in the house. i'm fredricka whitfield. we'll be back in one hour to talk to that family. we'll hear candy crowley talk about how she's going to handle her duties moderating the presidential debate. the presidential election is less than one month away, and america is headed toward a fork in the road. welcome to "your money." i'm ali velshi. on november 6, you will choose one of these two roads. the country will follow one of them and today i want to take you into the future. a look at 2016 under a president romney or a second term of president obama. but first, here's where we are today. the u.s.'s largest trading partners are struggling, and that is strengthening the

economic storm that's headed over from europe to the united states shores. this week the international monetary fund cut its forecast for global growth for both this career and next year. that's the world economy and the u.s. economy. the ims cited two reasons things could get worse. first, if european leaders fail to support their ailing economies, and second, if leaders here in the united states let us plunge over the fiscal cliff. the ims sister corporation citing the same two factors cut its growth forecast for asia this week as well. that's for the next couple years. where are we going to be in 2016, four years from now, when we're discussing the next u.s. election. that depends on which of these two roads america takes on election day. i'm going to take you down both paths in this show starting with what 2016 will look look under a president mitt romney. start with jobs. he says 12 million jobs will be created in the next four years. i keep telling you that claim is

ridiculous considering the sluggish growth we're seeing right now and the new downward revision. but for the purpose of this exercise, i'm going to take him at his word and presume a historic surge in jobs lies ahead. let's talk about taxes. next i'm going to let governor romney explain this for himself. >> well, i've made it pretty clear that my principles are, number one, simplify the code, number two, create incentives for large businesses and small businesses to grow, number 3, don't burden high income taxpayers, and number 4, reduce the burden of tax for middle income people. >> he can do that, we'll have a brand new tax plan. it's bold, but nobody has really done it since reagan. finally, let's look at the deficit. romney is planning to cut more funding than big bird and pbs. his plan is to reduce foreign aid, and one of the biggest cuts, prioritizing amtrak.

you may not think that's a big deal, i use amtrak all the time. romney says privatizing it will save $1.2 billion. however he does it, his goal is to reduce government spending to 20% of gdp. gdp is the biggest measure of everything we produce in society, and he wants to that by the end of his first term. right now government spending is at 25% of gdp. let's shed more light on what romney's america would look like. kevin hassick is an economic adviser of mitt romney. he's also the study at american enterprises institute. my good friend christine romans is the host of "your bottom line" right here on cnn. no idealogical spin today, no using the word obama or the term democrat. just paint me a picture of what it is world looks like under romney four years from now using specifics. you can't say we'll be better,

everyone will be richer. tell me everything that happens rphappens, the good and the bad, kevin, you go first. >> i commend your show really being one of the only places talking about the storm in europe. the fact is the world economy is flowing, the u.s. economy is flowing more in the second half, and the fact of it going forward, if the economy is going to turn around, the u.s. has to be the leader. we can't count on europe to start booming and drive growth. so i think europe can be a leader regardless of who is president if we do a couple things. we need fiscal consolidation. we need to get our deficit in order but by doing it to make changes to entitle mts ments in long run, so we make sure the u.s. is not looking like greece. the next thing we need the u.s. tax reform and small businesses

don't see the big tax hike that president obama has proposed. i'm not doing the partisan thing, i'm just saying. >> you said president obama but you did a pretty good job. >> okay. even if we do that, then we'll have growth. >> governor romney is a smart, successful businessman. that is not in dispute, and it appears his plan is to treat the country like a business, cutting costs and coming out more profitable in 2016. here's the thing, americans are not really employees of the government. being president is different than being ceo. i spoke to steve daly and he made a good point. he said a ceo could make choices in a big company and change it entirely. it's predetermined, the board knows it's coming. a president can't just do that. so within the constraints of what a president can actually do, really, how is life going to be that different in four years if mitt romney is president? >> you're right, it's like trying to steer an elephant, changing the direction of the

u.s. government. that's part of the problem, isn't it? i do agree with kevin. this tax system we have right now is a pinto and we need a porsc porsche. you bring those rates down, i like the idea of creating just a standard deduction that everybody gets and get rid of a lot of the pollution in the tax system. i think most people would agree that would be a much more rapid growth type of tax systemme. i want to add something to what kevin said. i'm real estate high on the energy story. i think for the next four years, i know you're skeptical of that 12 million job figures, but i think we could easily create 12 million jobs in the energy sector alone with what's going on in the oil and gas boom. we have so much coal in this country. the president has been so skeptical of oil, gas and coal. i think president romney would really go after it. the one sector in the economy in the last four years that's created more jobs in the industry has been the oil and

gas industry. i think we could create a lot more jobs in that industry if we got it right. >> you said president obama, too, but generally speaking that was pretty good. christine, you know the rules. if mitt romney wins in november, he's still got two very major problems. one of them is the gridlock in washington which has probably as much to do in congress, if not the president, more to do with congress. that economic storm blowing in from europe, kevin has said we have to be in good shape. i'm saying that may prevent us from being in as good a shape as we'd like to be. you argue that under mitt romney we'll start looking at government very differently, less paternalistic. >> time spas iis passing, and t from that great recession is passing, and the expansion of government spending to make a great recession not become a great depression. in four more years, no question exit strategies are going tok under way to rein in some of

those things. mitt romney has said that, look, he believes in the safety net and he will repair it as necessary but the safety net is probably way too big. so under a president romney, no question you would see a different way of looking at government and probably a smaller government. now, this being said, gentlemen, i would just like to say the one thing that is certain, that is certain under president romney, by the year 2016, we will all be four years older. >> and we'll have more hair, too. >> christine wins the prediction contest. all of you stay right there. you mentioned medicare, christine. candidate romney's medicare plan is a little foggy to some of the 50 million people who depend on it. what is in store for medicare if there is a president mitt romney in the white house? we will bring you the facts and continue this discussion right after this. you're watching "your money." ♪ ♪

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you're watching "your money." we're looking into the future right now to 2016. entitlements, call them whatever you want. for half the country, at least 2012, they are reality. one of the biggest questions is medicare. christine, with less than a month to go before the election, there are some unanswered questions, some clarity lacking about romney's medicare plan. tell me about it. >> governor romney's medicare plan is unclear to those of us who may rely on it when we get older. the cost to seniors only applies to future retirees. that's age 54 and under. his plan offers two options. one, a premium support system or a voucher for each senior to buy private insurance from competing providers. the other option, stay in traditional medicare. what we don't know is whether the voucher will be enough to cover the cost of the fra digsal medicare option for people who want to stay in it. they have not covered that yet.

second, the prescription drug plan. romney says older seniors have nothing to worry about, but obamacare saved $643 for seniors last year under the obamacare drug plan. romney says he vows to get rid of obamacare. no specifics on how his plan would deal with that increase. third, romney hasn't said if he would put a cap on these spending plans. a cap would keep cost increases under control. romney is using his own budget plan he introduced to congress. it includes a spending cap, but romney isn't aligning himself with it, and without a spending cap, they can't score that one, ali. >> hard to score, unclear what's going on. kevin, can you shed light on this? can you give some sense to those three questions christine has, what medicare is going to look like for people who receive it in 2016 or sometime after

president romney gets elected, if he does? >> absolutely. and it's important to emphasize this is a change to the program that's going to affect us, the people who are talking on the show but not people who are currently retired. i think the basic belief of governor romney and mr. ryan is that if we allow competition between firms for your business that they're going to get really good at providing services to you that you want, and they're going to tailor plans to customers in ways the government just never does, and that that will produce superior plans that cost less. competition tends to do that in society, but if it doesn't, which i think is one of the concerns that was just raised, then people can choose to stay on the normal plan. so i think -- >> but if the sick people go into the normal plan, right, because they want to make sure they get everything for their dollar, doesn't it create sort of two tiers of medicare, then? >> you know, i don't think that it would because i think what would happen would be that you might find that the private plans that people can buy with a voucher, for one thing, governor

romney is going to have a lot of detailed requirements for people. they'll have to have a plan that covers things in a specific way so that if you take the skplplad you're sick, you're going to be covered. we have a governor that -- they did a calculation of the fiscal adjustment that every governor around the world has to make, and our fiscal adjustment, how big the change has to be so our debt is sustainable, is 8% of gdp. that's the third largest on earth, right? so the fact is what governor romney wants to do is defend these programs. if you go down the road, you're absolutely right. for me, i want to create a medicare so that when i retire i know it's going to be there. i'm going to have to pay out of pocket a lot more than i do under the current system because as a wealthy person, i can afford to have deductions every year, and i think that's the crucial thing that's going to change. >> kevin, i like what you're

talking about. i'm not working for the campaign so i can be more critical. i think what the problem with what mr. romney is talking about is it takes too long to save money. this crisis is right around the corner with medicare. it's going to run out of money within the next ten years or so unless we make some changes. so yes, kevin, i like what you're talking about. i agree entirely. the competition model, i think, makes a lot of sense but i'm not so sure we have a lot of time. if you look at medicare, social security and medicaid, by the end of the decade, they're going to take all of our income tax revenues and we're not going to have money left over for anything else we spend money on. >> unless you're talking about taxes. so much of what you're saying about what a romney administration will look like is predicated on economic growth. what's the estimate that you have, that if you enact the things that romney wants to enact very quickly adds a half percent or 1% per year to gdp

growth? >> yeah, that's right. that's right. and i think you know -- you cover this a lot -- firms are sitting on a lot of cash, there is all this uncertainty over the fiscal cliff and the deficits and thousa and how that's going to work out. >> let me bring up something. you mentioned something earlier that i can't avoid. you mentioned amtrak. let's take that as one example. >> you're not going to hate on amtrak, are you? >> you're going to hate me for saying this, i think wealthy people like yourself don't need a government subsidy to take the train, right? why are taxpayers paying for people to take the train? i guess my point is, we have to start getting serious about what we really need in this country in terms of government benefits. >> although guys like you wouldn't want the government involved in a public private partnership to build a high speed rail which would increase business. >> i don't like high speed rail.

but we have to go through every program and say, is this a high priority? we have to consider elmo. i like public tv, but do we need to pay for it? >> you cannot solve problems by talking about elmo. that's all i got to say. >> we could do a whole show on this. i really like this conversation. thank you for limiting the use of the term democrat and obama in this one. we're going to talk a lot about that, by the way, in the next couple segments. >> i like elmo, too, by the way. i just wanted to get that on the record. >> we'll talk about what will happen by 2016 if obama is reelected president. >> are dire consequences in store? i'll draw you my own picture when we come back. all energy development comes with some risk,

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we just traveled down the road to 2016 urnder a president romney. now we're taking another fork in the road. in some ways it's less of a leap into the great unknown. after all, president obama has already been president for four years. he's got a track record from which we can extrapolate. we know what he's done, where he's fallen short. but because this would be his second term, he might be thinking about his legacy, and that can change the equation. here's where we are. based on normal revisions of past jobs numbers, normal revisions always happen. this is the normal course of business. there is no conspiracy here. the department of labor expects that not counting the last jobs report, which will come out just days before the election, president obama has already gained back all of those jobs that were lost on his watch. in fact, the department of labor says it's about 325,000 more jobs, although the new jobs tend to be of a lower quality than the ones that were lost. that is often typical after a

recession. but what happens if obama wins again? okay, that documentary was telling you about, 2016, obama's america, it is the second highest grossing political documentary in history -- "fahrenheit 9/11" was the highest. this is co-written by denise sousa, and it paints a dire picture. >> president obama has a dream by his father, that the sins be set right and america be downsized. >> according to the "washington post," here's what the movie tells viewers. if the president is reelected, the world four years from now will be darkened by the clouds of economic collapse and a terrifyingly ascended united states of islam in the middle east. that would be a distortion of the president's way of thinking, but it did make me think about

giving you a less politicized version of the next three years, and this is a snapshot. health care. by 2016, obamacare will be fully entrench entrenched, its missions entirely moved in and 30 million more americans will be insured. marginal tax rates for families making more than $250,000 will go back to clinton era rates, 39.6% versus 35%. now, the rich will also pay higher investment taxes. and you know the most important thing for me is what these two men will do about jobs. they both made the prediction that there will be 12 million jobs created regardless who is in office. it is predicted if no policy

changes are made, the unemployment will fall to 6.3% by the year 2016. where could it go if president obama actually got some of his jobs initiatives passed like an infrastructure bank or tax cuts for higher paid workers in the united states. john, it's about getting elected for a second term. if president obama wins again, doesn't have to worry about running again, his second term could be about establishing a legacy. what does that likely mean for americans looking toward 2016? >> well, second term presidents do look to go big. they look to make the history books and sometimes they're willing to bend their prior rules to get there. would president obama be more open to that big deal, more open to maybe structural changes in medicare and social security to get what he wants in the tax environment you were just talking about? yes, he most likely would be. however, ali, bill clinton wanted some big things in his second term. george w. bush wanted big things

in the second term. both were hobled politically, the monica lewinsky situation in bill clinton's case, and other things for george bush. so the president would be thinking big. the question is, can he get big? >> that's a good question. ronna peru is the assistant manager for "time" magazine. what does the economic picture look like in 2016 if president obama wins? >> i think if he was able to get through some of these big jobs plans he was talking about, an infrastructure bank, as you mentioned, really focus on manufacturing, really help the insurgents that has already been happening, i think we could go down to 6% or maybe even a little lower, but it's all about bringing congress together. it's not all about the president as we've seen the first term. it's going to be real important if he's reelected, if he can build consensus, and we're

actually starting to see on the republican side, you have tea party supporters possibly having higher taxes. >> is there something the president can achieve differently in the second term if the makeup of congress is the same? it's been so intractable between congress and the president? can that change? can he become more accommodating, more schmoozy or what? >> maybe it doesn't have to be schmoozy, but maybe just more consistent. there's no question that both candidates have dug in their heels, anything the support for, they're against. it's also true anything they're for, the democrats are against. the republicans have put through their proposals, they haven't passed. the democrats put through their proposals, they don't pass. the president without a doubt will have to work harder on that in a second term. i think he'll get the infrastructure bank. republican governors want that money. the big questions, though, taxes, entitlements, those are

bigger questions that i think the composition of the congress and how all of this alleged act would have a huge factor in the political dynamic. if romney loses this election, president obama gets a second term and the republicans have a civil war on their hands trying to figure out what happens next. >> i hope that infrastructure bank happens. it's probably one of the biggest drivers of the economy if that happens. mark is an analyst. mark, the president wants the bush tax cuts extended for the vast majority of americans. he wants to let them expire for families making more than $250,000 a year. it's a bit of a red herring, because in the vast scheme of things, it doesn't actually affect the budget all that much, but he's also pushing for the buffett rule, so people making more than a million dollars would pay at least 36% of their income in taxes. is it going to be just the rich

who pay more taxes if president obama wins or is it going to be everyone? >> i disagree, ali. in a ten-year period, if you follow what the president wants to get done, it's about 8$850 billion. that's not inconsequential, that's very insignificant. if we're going to achieve fiscal capability, the gdp rates stabilize and cut down. we'll need tax revenue, and if you look at simpson bowles and other nonpartisan people in this, they say we need about $20 trillion in revenue. >> it doesn't solve the problem. that revenue you need, we still have to do something about that, which means it comes from remarkable economic growth or taxing other people. >> being a prudent planner, i don't think i would count on stronger economic growth from changes in the tax code. maybe we get lucky and we get a

stronger economy and we're all better off for that, but i wouldn't plan for that. to get that extra revenue we need to achieve fiscal capability, i think we need to look at tax reform. we do need to look at the kinds of things governor romney was talking about, scaling back on these deductions in the code, make the code fair, make it more equitable, easier to understand, and most importantly, generating some revenue. >> we'll delve into some of these issues president obama raised earlier. governor romney has blocked many of president objeama's initiatives. would we be able to get some of these things done? we'll take the other side. i'll . [ male announcer ] it's chevy truck month. now during chevy truck month,

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special version of "your money" back to the future. we're taking you down the road to the future, 2016. what does america look like if we go down this road, the road of a second term of president obama. the president's first term was the passage of health reform, you know, obamacare. it was initially a poe ejorativ term but a term he says he's grown fond of. 30 million americans will be insured through the new law, including 23 million who are insured in the insurance exchanges set up as part that far law and 6 million americans

will pay penalties because they're not insured. mark zandy from moody's. without obamacare, there will be 36 million people uninsured in america. how does 30 million fewer unemployed people help the economy? >> that's a big number, 30 million more insured, and if you keep them out of emergency wards, that helps to bring down the cost of health care. but there are a lot of things in obamacare that has the potential of sort of bending the health care costs because that is slowing the rate of health care costs. things like taxing cadillac insurance plans. that will kick in before the end of his term. fee for results, not fee for service, which is a big change. hopefully that results in some improvement. and also the so-called ipad, the independent payment advisory board which has been so

controversial in this world. the american system that can be changed to reduce ways to get costs down. i don't know if these things are going to work, but a lot of experiments in obamacare. maybe they help and at the end of the day, we bend that health care cost and that would be beneficial to our health care future. >> the president has been criticized, by the way, other than health care which was a very long-term legacy type project, he's been criticized for having short fixes to the economy lacking a long-term vision. would a second term change that? would we see bigger changes on taxes? >> i think we would see a change on taxes, we're seeing it already. you can see the polls numbers throughout this election season that people are willing to take a tax hike if they feel that revenue will be used for things like education, infrastructure, job-creating things.

also, you can look across the atlantic to europe and see that austerity really isn't working. there are some new monetary funds figures out that show companies that are cutting and not investing in the economy are actually doing work, so you can use that to push the agenda forward. >> congress has been an obstructionist, congress has been a problem, but that's a real divide between americans who are willing to put a lot of responsibility for the lack of economic progress in washington on congress. a times poll found that congress had an approval rating of 16%. what, honestly can he do? he's tried different chiefs of staff, he's tried different approaches to congress. what's the special sauce? how does he get back and say, we have to go and we have to change things for america. >> there are many ingredients to a special sauce and some of them are personal. the president will have to do a better job building better relations with republicans. the republican leaders will have

to do a better job accommodating and actually trying to do business with the president. welcome to the world of washington. you have to give to get. the president will have to give some things up to get some deals. if john boehner is back as speaker of the house, and mitch mcconnell, whether he's the republican leader or majority of the house or senate, these are guys who for 20-plus years have been deal makers. they will come to the table looking to do business because they're americans just like the president is an american. the second is, what's the composition of the congress, number one? how big is the president's win on election day. if he wins with 51% of the vote, that's not a great mandate. if he wins with 275 electoral votes, just over the 270 needed to win, that will be a huge factor in his leverage here. the president understands. the leaders in congress understand. you're just talking about the next four years. there will be some hiccups in the health care plan. some things will prove to be

wildly more successful than they thought, others will be problems. will they have the bipartisan spirit to fix it? the chinese gdp will catch up to the u.s. gdp in that second term. the next president will have to deal with the china challenge as well as all the global economic challenges. >> agood to see you all. thank you so much for giving us a peek into the future. coming up, did you hear this on thursday night? >> a debt crisis is coming. we can't keep spending and borrowing like this. we can't just keep spending money we don't have. >> both sides say they're serious about tackling the national debt, so why has neither side put forth a credible plan to do it? that's next on "your money."

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it's the $16 trillion question. are president obama or mitt romney serious about tackling the national debt. your taxes tackle about 2% of the deficit each yoer. in 2012, the federal deficit said they spent more than they took in. it's the second year in a row that it's been over $1 trillion. >> they claim to have a plan to get the deficit under control. listen to paul ryan speaking about president obama. >> when he said i promise by the end of my first term i'll cut the deficit in half.

president obama hasn't put a credible plan on the table in any of the four years to deal with the debt crisis. mitt romney has five years on the table. >> the first part of that statement is true. one month after taking office president obama vowed to cut the deficit in half. it stands at $1.1 trillion. that works out to a 23% cut. it is a cut, but not the 50% the president promised, ali. there are two ways to reduce the deficit, raise more revenue or cut your spending. experts agree the only way to put a real dent in the deficit is a combination of the two. in 2010, the president set up the simpson bowles commission which proposed a bipartisan, balanced plan to reduce the deficit. paul ryan was a member of that commission but he voted against its recommendations, and president obama hasn't endorsed them entirely, either. but both sides incorporate elements of the report into their own plan. president obama's plan is to

stop deficits from growing faster than the economy. his budget would reduce the deficit to below 3% of entire economic output after three years. he would raise revenue of $1.5 trillion with the wealthy taking the biggest hits. the president would also cut discretionary spending, mandatory spending and defense, but his plan doesn't address the rising cost of social security and medicare. that means the deficit would rise by $6.7 trillion. it's a good first step, but budget experts say that's still too high. mitt romney, meanwhile, has focused on the cuts. his economic plan, 55% of it cap spending at 20% gdp but his plan avoid cutting from defense. mitt romney says he would approve a balanced budget plan that only spends as much as it takes in, and he would also

pursue entitlement reform. mitt romney's issues are taxes. romney's plan called for a 20% tax cut across the board. he said he would balance the loopholes and he said he would take care of the middle class family. but it's impossible to lower rates without taking money from low and middle income families. his plan would leave debt at 85% gdp by the end of the decade. we've been telling you also about the fiscal cliff. budget cuts will take place at the beginning of next year unless congress acts. president obama or president romney will need to worry about a rescisicessionrecession. they won't need to worry about a deficit. it would fall this year if we fell off that cliff. as a result of economic output, that would be the single biggest year of a drop in the deficit since 1969.

>> that would be a bad way to achieve lower spending. >> hundreds of millions of people out of work. >> how could we get gas down to $2 a gallon with a recession? coming up n, who is john gault and why the answer to that 55-year-old question could shed light on another question. who is paul ryan? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone!

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one of the most important questions of this election, what is the role of government. ayn rand is answering that question. why is her divisive thinking

mothinking -- >> they started cropping up three years ago after the finance crisis. for some, iyn ranked and his here row -- among those inspired by rand's writing, vice presidential candidate paul ryan. >> the reason i got involved in public service, by and large, if thid think of one person, it would be ayn rand. >> she was a russian born jewish intellectual. she developed a fervid sense of individualism and individual rights. >> biographer ann helder says rand was a teenager when the communist army seized her father's pharmacy. >> they put a red banner across the door and her father never

worked again and she was there to see that humiliation. >> she came to the u.s. in 1936 and soon became fearful of what she saw, the new deal, big government getting bigger. >> she saw american come in addition beginning to blossom or so she thought in the 1930s and was appalled and horrified. >> the most famous books create -- she called her philosophy objectivism which values selfishness, and complete free market capitalism as she told mike wallace in a 19 59d interview. >> altruism, man's moral duty is to live for others. i say that man is entitled to his own happiness and that he must achieve it himself. >> what was the role of

government? >> no public schools, no public libraries, no public hospitals, no public roads. >> what was the biggest misperception is ayn rand? >> i think the biggest is that she's gent -- >> her philosophy resonates in a particular way today. >> because she asked people to rethink what the purpose of government is, as a result of this financial crisis and what the government did in response. >> so she would have hated the bail out of wall street, the bailout of the auto industry. >> she made it sort of morally justifiable to be really harsh in your treatment of the poor. >> so what would happen to

people in her ideal society that could not help themselves? >> who would take care of them would be friends, families, 245ithey would do it out of a sense of benevolence. >> she thought that christianity and communism were two sides of the the same coin. >> which may be why paul ryan has stepped back from what he said in 2005. >> i grew up reading ayn rand and it taught me what my value systems are and what my believes are. >> i'm a devout catholic. >> and rand may have been equally dismissive of today's politicians. >> do you think she would like president obama? >> no. >> would she like mitt romney? >> no. >> would she like paul ryan? >> no. >> why not?

>> because none of them is a pure capitalist and none of them agrees totally with her and that was the price of admission with ayn rand. inequality is on the rise, americans have been hit hard seeing their network drop 28%. we'll talk protecting main street from wall street after the break. [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way.

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the economy is center stage in this election as it should be. we have laid out what your life would look like in 2016 depe depending on who ask elected president next month. our fragile recovery hangs in the balance. on the sidelines of the national

conversation is the connection between our economic problems and the circumstances that caused them. wall street reform matters and anyone committed to a healthy economy should be committed to a stable, well regulated financial system. next week i'll speak with sheila bair, the former chair of the federal goes it insurance -- after the bubble burst, it was her job to keep the banking system and more over your bank account from meeting disaster. she'll be with us next week to discuss her new book, "bull by the horns" fighting to save main street from wall street and the government itself. has this country done enough to rein in the greed ander respone